Critical minerals miner Pan Asia Metals has entered a non-binding memorandum of understanding with VinES Energy Solutions to conduct a feasibility study for a standalone lithium conversion facility in an industrial zone close to the VinES battery plant in Vietnam.

shaking hands 3091906 1920The facility’s proposed location is expected to optimise logistics and enhance the ESG credentials of the end product. The study will consider an initial annual capacity of 20,000-25,000 tons/annually of lithium carbonate and/or lithium hydroxide. 

Pan Asia Metals and VinES will establish a joint project team that will cover areas such as project ownership, feedstock supply, and offtake provisions. One of the key responsibilities for the miner will be to secure additional lithium concessions and lithium oxide concentrate supply agreements with the goal of supplying feedstock to the project. 

“This is a significant step towards achieving our strategy focused on developing an integrated supply chain to cost-effectively deliver relevant and in-demand products to the Li-ion battery market in Southeast Asia,” said Paul Lock, Pan Asia Metals chairman and managing director.

Pan Asia Metals owns the Reung Kiet and Kata Thong lithium projects, and the Khao Soon tungsten project in southern Thailand.

Source: Pan Asia Metals